India-Based Robotics Company Miko Secures $7.5 Million

By Dan Anderson ● August 18, 2019
  • India-based robotics company Miko announced it raised $7.5 million in Series A funding led by Chiratae Ventures (formerly IDG Ventures India), YourNest Venture Capital, Bruno Raschle’s family office, and several angel investors

Miko — an India-based robotics company — announced that it raised $7.5 million in Series A funding led by Chiratae Ventures (formerly IDG Ventures India), YourNest Venture Capital, the family office of Bruno E. Raschle, and a group of angel investors. Miko’s flagship product is called Miko 2, which is a robot known for engaging and educating kids.

With this round of funding, Miko will be expanding globally in North America, the UK, and the Middle East, according to Mint. And the company will also bolster new product development, launch in more markets, and commit to R&D in AI. Currently, Miko has 120 employees in the US and India.

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Launched in 2015 by three Indian Institute of Technology, Bombay graduates Sneh Vaswani, Prashant Iyengar, and Chintan Raikar, Miko’s robots are able to see, hear, talk, and recognize faces. Plus it can remember names and identify moods.

“Our company has grown by leaps and bounds over the past five years. The investment from our existing investors is a testimony of the trust and confidence that they have placed in us. We’re excited to bring our AI-driven playful learning robots to international markets as a way to meet the needs of today’s parents who seek a positive and trusted gateway of technology which also caters to the learning and developmental needs of children,” said Vaswani in a statement.

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